Studies demonstrate that the city of Lima is undergoing an increased privatization of its public space, measured either in terms of its physical appropriation by private groups or through the segregation and restriction of its uses. In these terms, Lima reflects a global process that is occurring in most big cities. The difference with other urban experiences, however, is that many of the privatization processes are characterized by a situation of sub-institutionality. In other words, they are driven by various degrees of informality that openly challenge and question democratic forms and the role that public space plays in the integration of a diverse and heterogeneous citizenry. In the article, we dwell on how these processes are interpreted by the social actors themselves, focusing on the opinion, sentiments, and perceptions of higher income groups. Although a majority of these citizens consider that the privatization of parks and streets is negative and long for a more open city, they justify actions restricting access by claiming security issues and the lack of governmental action in deterring crime. Nonetheless, in their discourse, there are also other motivations –mainly of a discriminating and exclusionary character- that might be of greater importance at the moment they act on public space.